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Retainage is recorded on the balance sheet. The contractor, to whom the retainage is owed, records retainage as an asset. The client, who owes retainage to the contractor records retainage as a liability. Retainage receivable accounts have a normal debit balance; retainage payable accounts have a normal credit balance.
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How do you record a journal entry for cash receipts?
[debit] cashcredit accounts receivable
What is the journal entry to record receit of cash?
debit cashcredit accounts receivable
How do you record in journal entry the receipt of cash from credit?
debit cashcredit accounts receivable
Adjusting journal entry to record bad debt?
Debit bad debtsCredit accounts receivable
How do you record cash received from a customer on a double entry journal?
debit cash / bankcredit accounts receivable
How do you record a journal entry for cash receipts?
[debit] cashcredit accounts receivable
What is the journal entry to record receit of cash?
debit cashcredit accounts receivable
How do you record in journal entry the receipt of cash from credit?
debit cashcredit accounts receivable
Adjusting journal entry to record bad debt?
Debit bad debtsCredit accounts receivable
How do you record cash received from a customer on a double entry journal?
debit cash / bankcredit accounts receivable
What is the journal entry to record sale of merchandise?
Debit accounts receivable / cash / bankCredit sales revenue
What is the journal entry to record receipts from customers?
[Debit] Cash / bank xxxx [Credit] Accounts receivable xxxx
What is the journal entry to record accrued interest?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
What is the journal entry for interest receivable?
[Debit] Interest Receivable [Credit] Interest Income
What is the journal entry to record accrued interest income from bonds?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
What journal entry to record sale of inventory?
Debit Cash / bank / accounts receivable xxxx Credit Sales revenue xxxx
